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Summary of New Qualified Mortgage (QM) Rule

NAR has been actively involved in shaping the debate and structure of the Qualified Mortgage (QM) Rule issued by the Consumer Financial Protection Bureau (CFPB) created by the Dodd-Frank Reform Act.  NAR achieved a significant victory in obtaining a safe harbor in the QM rule for loans underwritten to the automated standards of Fannie Mae/Freddie Mac, the Federal Housing Authority, Veterans Administration and Rural Housing Service (within their respective loan limits) for up to seven years.

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Pending home sales rose in April for the fourth straight month and reached their highest level in nine years.

For the third month in a row, the REALTORS® Confidence Index rose above 50 for all property types.

The NAR Board of Directors approved a system which will give brokers a single place to input listing data for distribution on multiple sites.

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An email scam targets real estate professionals. Other stories: NAR seeks HUD-1 enforcement grace period.